As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers.
St. Catharines, Ontario–based Algoma Central Corporation (TSX: ALC) reported a solid third quarter for 2025, marked by fleet milestones, steady revenue growth across segments, and ongoing investment in next-generation vessels.For the quarter ended September 30, Algoma posted revenue of C$228 million, up from C$205 million a year earlier, and EBITDA of C$89.7 million, a 19% increase year-over-year.
Oil prices edged lower on Thursday but held near the highest since mid-June as the Iran war escalated, with Tehran asking Yemen's Houthi movementto be prepared to close the Red Sea oil export route.Brent crude futures were down 19 cents, or 0.2%, to $84.76 a barrel by 11:25 a.m. EDT. U.S. West Texas Intermediate futures were down 17 cents, or 0.2%, to $79.43 a barrel.
U.S. import prices surged in April, with the cost of fuels posting the largest increase in four years, another indication that the U.S.-backed war with Iran was boosting inflation.Import prices increased 1.9% last month after an upwardly revised 0.9% rise in March, the Labor Department's Bureau of Labor Statistics said on Thursday.
The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows.The U.S. submarine strike on the Iranian vessel came as U.S.
Marine fuel sales at the world's largest bunker hub of Singapore posted a strong start to 2026, driven by healthy demand and higher price premiums, based on port data and trade sources.January 2026 volumes totalled 5.23 million metric tons, up 16.5% year-on-year (YoY), though easing from the record monthly highs of 5.
Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela.Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was at $58.
Oil prices dipped on their first trading day of 2026 after registering their biggest annual loss since 2020 as investors weighed oversupply concerns against geopolitical risks, including the war in Ukraine and Venezuela exports.Brent crude futures lost 55 cents to $60.29 a barrel by 11:16 a.m. ET (1616 GMT) on Friday while U.S. West Texas Intermediate crude was down 53 cents at $56.89.
South Carolina Ports recorded 206,859 TEUs at its marine terminals in October, a 1% year-over-year dip, as fiscal year volumes remain above plan. October marked the Port's strongest month for loaded exports since June, with an 18% year-over-year increase.The predicted slowdown mirrors national trends as containerized imports in the U.S. saw a 7.
Global trade flows have adjusted to new geopolitical developments last week, with Red Sea diversions maintaining their grip on vessel demand patterns. Against this backdrop, timecharter earnings hit their highest levels since October 2024, with Capesize rates leading the rally while smaller segments lagged behind.
Rigs drilling beneath the deep waters of the Gulf of Mexico will drive U.S. oil industry growth this year and next as onshore production slows due to lower prices and maturing shale fields, and analysts and consultants expect the trend to continue as new technology and friendly regulations attract investment offshore.
Port Houston recorded sustained growth in August following a standout July. Total tonnage across Port Houston’s public terminals is up 5% year-to-date through August, reflecting steady growth across multiple cargo sectors.After a record-setting July, the Port’s container terminals saw 370,430 twenty-foot equivalent units (TEUs) in August, up 1% from the same month last year.